Check local landlord-tenant laws and rental regulations
Confirm mortgage, HOA, and insurance rules allow renting
Decide whether to rent the whole home or part of it
Set a competitive rental price based on market research
Calculate all costs, including mortgage, taxes, insurance, repairs, and vacancies
Prepare the home for tenants by cleaning, repairing, and making it safe
Install or verify working smoke and carbon monoxide detectors
Consider professional photos and a clear listing description
Advertise the property on rental websites and local channels
Screen applicants with income, credit, rental history, and references
Follow fair housing laws during advertising and screening
Run background and eviction checks where permitted by law
Select a qualified tenant and collect a security deposit
Use a written lease agreement with clear terms and rules
Include rent amount, due date, late fees, maintenance duties, and lease length
Document the home’s condition with a move-in inspection checklist
Collect the first month’s rent and required deposits before move-in
Set up a system for rent collection and maintenance requests
Keep records of payments, repairs, and communications
Respond promptly to repair and safety issues
Inspect the property periodically as allowed by the lease and law
Follow proper notice and legal procedures if ending the tenancy
Report rental income and expenses for tax purposes
Consider hiring a property manager if you want less involvement